Shanghai further restricts real estate purchase

Shanghai Municipal Government recently issued measures for the implementation of national policies regulating the real estate market aimed to curb the currently hiking prices of properties. Such measures include the reduction of percentage of lease that can be owned for purchase of real estate (that will be equal to 30% of the purchase price from the previous 40%) and further restriction on purchase by Shanghai non – resident (i.e. non in possession of Shanghai “Hukou” 户口). Finally, the local government will allocate further areas on real estate development and construction. Such measures are similar to the one already implemented by other cities, such as Beijing and Shenzhen; we will see if they will prove to have any beneficial effect: in the meantime we encourage you to write your comments and suggestion to us.

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